Discounted Cash Flow (DCF) Analysis Unlevered
Payton Planar Magnetics Ltd. (PAY.BR)
8.15 €
0.00 (0.00%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 33.04 | 45.62 | 38.43 | 43.87 | 43.98 | 48.02 | 52.42 | 57.24 | 62.49 | 68.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | 7.78 | 14.63 | 11.69 | 12.99 | 11.27 | 13.56 | 14.81 | 16.17 | 17.65 | 19.27 |
| EBITDA (%) | ||||||||||
| EBIT | 6.85 | 13.72 | 10.71 | 12.09 | 10.38 | 12.47 | 13.61 | 14.86 | 16.22 | 17.71 |
| EBIT (%) | ||||||||||
| Depreciation | 0.93 | 0.91 | 0.98 | 0.90 | 0.89 | 1.10 | 1.20 | 1.31 | 1.43 | 1.56 |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Total Cash | 24.45 | 30.93 | 33.84 | 44.38 | 38.63 | 40.22 | 43.91 | 47.95 | 52.35 | 57.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | - | - | - | - | - | - | - | - | - | - |
| Account Receivables (%) | ||||||||||
| Inventories | 3.65 | 3.28 | 3.51 | 3.46 | 3.77 | 4.21 | 4.60 | 5.02 | 5.48 | 5.98 |
| Inventories (%) | ||||||||||
| Accounts Payable | 3.09 | 1.89 | 2.68 | 5.05 | 4.09 | 3.96 | 4.33 | 4.73 | 5.16 | 5.63 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | -0.56 | -0.53 | -0.63 | -0.67 | -0.52 | -0.69 | -0.75 | -0.82 | -0.90 | -0.98 |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 8.15 |
|---|---|
| Beta | 0.575 |
| Diluted Shares Outstanding | 17.67 |
| Cost of Debt | |
| Tax Rate | 17.61 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.554 |
| Total Debt | - |
| Total Equity | 144.02 |
| Total Capital | - |
| Debt Weighting | - |
| Equity Weighting | - |
| Wacc |
Build Up Free Cash
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 33.04 | 45.62 | 38.43 | 43.87 | 43.98 | 48.02 | 52.42 | 57.24 | 62.49 | 68.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 7.78 | 14.63 | 11.69 | 12.99 | 11.27 | 13.56 | 14.81 | 16.17 | 17.65 | 19.27 |
| EBIT | 6.85 | 13.72 | 10.71 | 12.09 | 10.38 | 12.47 | 13.61 | 14.86 | 16.22 | 17.71 |
| Tax Rate | 18.94% | 17.07% | 17.69% | 18.00% | 17.61% | 17.86% | 17.86% | 17.86% | 17.86% | 17.86% |
| EBIAT | 5.55 | 11.38 | 8.81 | 9.91 | 8.55 | 10.24 | 11.18 | 12.21 | 13.33 | 14.55 |
| Depreciation | 0.93 | 0.91 | 0.98 | 0.90 | 0.89 | 1.10 | 1.20 | 1.31 | 1.43 | 1.56 |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventories | - | 0.37 | -0.23 | 0.05 | -0.31 | -0.44 | -0.39 | -0.42 | -0.46 | -0.50 |
| Accounts Payable | - | -1.20 | 0.79 | 2.38 | -0.97 | -0.12 | 0.36 | 0.40 | 0.43 | 0.47 |
| Capital Expenditure | -0.56 | -0.53 | -0.63 | -0.67 | -0.52 | -0.69 | -0.75 | -0.82 | -0.90 | -0.98 |
| UFCF | 5.93 | 10.92 | 9.72 | 12.56 | 7.65 | 10.09 | 11.60 | 12.67 | 13.83 | 15.10 |
| WACC | ||||||||||
| PV UFCF | - | - | - | - | - | |||||
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | 15.40 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | -22.15 |
| Equity Value | - |
| Shares Outstanding | 17.67 |
| Equity Value Per Share | - |